Repeal & Reenact Earned Income Tax Credit Increase
| Type | Bill |
|---|---|
| Session | 2024 Regular Session |
| Subjects |
Concerning the repeal and reenactment of the law enacted by House Bill 23B-1002 that increased the earned income tax credit for 2023, and, in connection therewith, making an appropriation.
Bill Summary:
The act repeals and reenacts law originally enacted by House Bill 23B-1002, concerning an increase in the earned income tax credit for income tax year 2023, and, in connection therewith, making an appropriation, to increase the amount of the earned income tax credit that a resident individual may claim on the resident individual's state income tax return for 2023 only from 25% to 50% of the federal credit claimed on the resident individual's federal income tax return. The increase in the amount of the credit is a one-time mechanism for refunding excess state revenues for the 2022-23 state fiscal year that are required to be refunded in the 2023-24 state fiscal year.
For the 2023-24 state fiscal year, the act appropriates $51,483 from the general fund to the department of revenue and reappropriates $516 of that amount to the department of personnel for implementation of the act.
APPROVED by Governor January 31, 2024
EFFECTIVE January 31, 2024
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 01/11/2024 | SA1 |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 24-1084 to the Committee of the Whole. | The motion passed on a vote of 4-3. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 24-1084 to the Committee of the Whole. | The motion passed on a vote of 6-4. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 24-1084 to the Committee on Appropriations. | The motion passed on a vote of 6-5. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 01/24/2024 | Third Reading | BILL |
23
AYE
12
NO
0
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 01/17/2024 | Third Reading | BILL |
43
AYE
17
NO
4
OTHER
|
Vote record |
| 01/17/2024 | Third Reading | AMD (L.001) |
42
AYE
16
NO
6
OTHER
|
Vote record |
| 01/17/2024 | Third Reading | PERM |
43
AYE
16
NO
5
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 01/31/2024 | Governor | Governor Signed |
| 01/26/2024 | Governor | Sent to the Governor |
| 01/26/2024 | Senate | Signed by the President of the Senate |
| 01/25/2024 | House | Signed by the Speaker of the House |
| 01/24/2024 | Senate | Senate Third Reading Passed - No Amendments |
| 01/23/2024 | Senate | Senate Second Reading Passed - No Amendments |
| 01/18/2024 | Senate | Senate Committee on Finance Refer Unamended to Senate Committee of the Whole |
| 01/17/2024 | Senate | Introduced In Senate - Assigned to Finance |
| 01/17/2024 | House | House Third Reading Passed with Amendments - Floor |
| 01/12/2024 | House | House Second Reading Special Order - Passed - No Amendments |
| 01/12/2024 | House | House Committee on Appropriations Refer Unamended to House Committee of the Whole |
| 01/11/2024 | House | House Committee on Finance Refer Unamended to Appropriations |
| 01/10/2024 | House | Introduced In House - Assigned to Finance |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 01/31/2024 | 1 | Repeal & Reenact Earned Income Tax Credit Increase |